2017 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-50 CHAPTER 50 ORGANIZATION OF DOMESTIC STOCK AND MUTUAL INSURERS (500.5000...500.5040)
Section 500.5002 Organization of insurers; definitions.
Sec. 5002.
Definitions, as used in this code:
(1) Except as otherwise indicated “corporation” means a corporation formed or existing under the laws of this state.
(2) “Articles” means articles of incorporation, and all amendments thereto, and includes what has heretofore been referred to as articles of association and/or charters and amendments thereto of corporations governed by this code.
(3) “Incorporator” means a person, natural or corporate, who signs the articles.
(4) “Director” and “directors” shall be construed to be synonymous with “trustee” and “trustees” respectively. “Directors,” when used in relation to any power or duty requiring collective action, shall be construed to mean “board of directors.”
(5) “Registered office” means the place designated in the articles or bylaws as the office of the corporation in this state.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218
